Believe or not, after a decade of the great Revenue Management proliferation throughout the hotel industry (2004-now), there are still a majority of properties that are just waking up to the potential benefits of RM. That’s a good thing, but unfortunately, because of their inexperience with RM, many hoteliers have wild misconceptions about what RM can actually deliver. While it is true that Revenue Management is now the most critical function in the hotel industry, it certainly is not a panacea that can deliver miracles. Revenue Optimization is about working with what you have, not what you expect to have. Here are just five examples that I have experienced where hoteliers have combined RM with fantasy.
